U.S. futures get a boost from China’s triple data beats; STOXX 600 gaps down Yields on U.S. Treasurys, Chinese bonds surge as investors switch to risk assets Qualcomm stock spikes on surprise settlement with Apple Oil jumps above $64 on China optimism and inventory drop Key Events
European shares looked downbeat this morning while futures on the , and pointed to a firmer open in the upcoming U.S. session, as investors tried to find a clearer path across multi-layered themes such as positive economic data from China and mixed corporate earnings results from the U.S.
The gapped down, as the falling price of weighed on miners shares.
In the earlier Asian session, China’s (+0.29%) and Hong Kong’s (-0.02%) experienced some volatility after data showed China’s economy rebounded in the first three months of the year, with , and all beating analysts’ expectations.
While seeing the beneficial effects of the recent boost by Chinese policy makers to economic stimulus—with some domestic stocks also from renewed economic optimism—should help ease concerns about flagging global output, it also may have led investors to assume that additional pro-cyclical measures are unlikely.
China 10-Year Yields Daily Chart
In reaction to the news, the yield on China’s sovereign notes climbed to its highest level since November, crossing over the 200 DMA, after bottoming out earlier in the month.
Japan’s rose 0.25%.
Global Financial Affairs
Yesterday’s U.S. session saw all four major indices cling onto green territory as some high-profile companies posted conflicting signals on earnings momentum as well as on the broader economic outlook.
The eked out a 0.05% gain. , which tumbled 2.36% despite the slower path to higher interest rates, , which gave up 2.05% in the absence of any positive catalyst, and , which slid 1.24% as traders sought risk,